San Francisco Wants to Eliminate Paychecks - NBC Bay Area

San Francisco Wants to Eliminate Paychecks

Program would require employers to offer direct deposit to city workers.



    San Francisco Wants to Eliminate Paychecks
    Getty Images/Comstock Images
    San Francisco wants to do away with paper paychecks in favor of direct deposit and electronic payment methods.

    First San Francisco took on plastic bags and then the Yellow Pages. Now the City is taking aim at your paycheck.

    The City is looking to become the first in the nation to eliminate your paycheck and before Bill O'Reilly can ask a producer to press record, no, San Francisco is not trying to take your money.

    Instead San Francisco Treasurer Jose Cisneros is proposing that the City require employers to go completely electronic with its payrolls.

    The argument is that by eliminating paper paychecks, not only will San Francisco become greener by saving about 50 tons of paper a year but the City said the completely electronic system would also prevent theft and save millions in check-cashing fees.

    Cisneros' office told The San Francisco Examiner that it estimates about 90 percent of the City's 26,000 employees use direct deposit but about 67,000 San Francisco households do not use direct deposit and about 20 percent of San Francisco companies do not offer the service at all.

    The CurrenC SF program would aim to connect employers with non-profits and financial firms.

    San Francisco Mayor Ed Lee threw his weight behind the program saying it was "critical during these times."